CRWD Q1 2026 Earnings

Call Details

• Call Title: CrowdStrike Q1 2026 Earnings Call
• Date: June 3, 2025 at 9:00 PM UTC
• Management Team:
  • Maria Riley (Vice President of Investor Relations)
  • George Kurtz (Chief Executive Officer and Founder of CrowdStrike)
  • Burt Podbere (Chief Financial Officer)

Call Summary

Financial Performance

• Total revenue was $1.10B in Q1, growing 20% year over year.
• Subscription revenue was $1.05B in Q1, growing 20% year over year.
• Ending ARR was $4.44B, up 22% year over year, and net new ARR for Q1 was $194M.
• Subscription gross margin was 80% and total gross margin was 78%.
• Non-GAAP operating income was $201.1M with an 18% operating margin, and non-GAAP operating expenses were $656.0M or 59% of revenue.
• GAAP net loss attributable to CrowdStrike was $110.2M which included $39.7M of outage-related expenses.
• Cash and cash equivalents were $4.61B and free cash flow was $279.4M or 25% of revenue, with operating cash flow of $384.1M.

Guidance

• For Q2 FY26 the company expects total revenue in the range of $1,144.7M to $1,151.6M, reflecting 19% year-over-year growth.
• The company expects Q2 non-GAAP income from operations of $226.9M to $233.1M and non-GAAP net income of $209.1M to $213.8M.
• Q2 diluted non-GAAP net income per share is expected to be approximately $0.82 to $0.84 using ~255M diluted shares and a 22.5% tax rate.
• For FY26 the company expects total revenue of $4,743.5M to $4,805.5M, reflecting 20% to 22% growth year over year.
• FY26 non-GAAP income from operations is expected to be $970.8M to $1,010.8M and FY26 non-GAAP net income is expected to be $878.7M to $909.7M, with EPS of $3.44 to $3.56 on ~256M shares.
• The company reported that CCP-related amortization impacted subscription revenue by approximately $11M in Q1 and expects a $10M to $15M impact in each remaining quarter of FY26, subsiding in Q4.
• The company stated it does not guide net new ARR but said Q2 assumptions include sequential net new ARR growth at least double the prior fiscal year's Q1-to-Q2 change.